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ARTICLE · 13 JULY 2020

How Blockchain For Business Will Develop In 2020 And Beyond

Mason Hayes & Curran LLP
Mason Hayes & Curran LLP
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Mason Hayes & Curran LLP

Mason Hayes & Curran LLP

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Many know blockchain as the innovative technology that allows the cryptocurrency Bitcoin to work. The underlying blockchain protocol can be repurposed for many non-currency purposes.

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Mark Adair
Mark Adair
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Many know blockchain as the innovative technology that allows the cryptocurrency Bitcoin to work. The underlying blockchain protocol can be repurposed for many non-currency purposes. The blockchain protocol is suitable for anything that requires a process to record transactions and track assets, whether those assets relate to property, IP, finance or something else. It promises more efficient and transparent business transactions compared to existing solutions.

Blockchain is still an evolving technology. In the legal world we are keeping a close eye on 'smart contracts' that use blockchain. We are also looking forward to seeing how blockchain for business develops alongside other disruptive technologies, like big data analytics, the Internet of Things and artificial intelligence.

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